Word: ruinous
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Mollet's public loan seems to be straight fiscal poison for France. In interest charges alone the new bonds will cost the government $2,100,000 next year, and, given continued inflation, their redemption could prove a ruinous burden on the government of 1971. (Had a similar loan been floated in 1949, the government would now be obliged to pay out $250 for every $100 worth of bonds originally issued.) Worse yet, the $429 million which the loan is expected to raise will pay for only about five months of fighting in Algeria. Then, if the rebellion...
...Charles B. Shuman, 49, an Illinois stock and grain farmer, and a teetotaling Methodist Sunday school teacher. The American Farm Bureau grew out of the agricultural recession after World War I, aligned itself with the relatively low stopgap subsidy policies of the Roosevelt Administration in the 1930s, saw the ruinous results of subsidized surpluses under the Truman Administration, has since-under the influence of its efficient, prosperous Midwestern members-generally supported Republican farm policy, e.g., the Farm Bureau held fast against this year's Democratic farm bill, opposes price floors for hogs and cattle, backs flexible supports on basic...
...political drumfire rattled through the headlines. Dwight Eisenhower was pondering one of the most critical political decisions of his presidency: Should he sign the farm bill? Or should he veto it? Many politicians-some Republicans and most Democrats-said again and again that a veto might be ruinous to the G.O.P. cause. But a signature would mean accepting a set of laws that Eisenhower has consistently opposed as economically unsound and. in the long run, bad for the farmers...
...meeting of the Council of the Organization of American States held in his honor, he sharply warned against "flooding" Latin America with surplus products, saying that it would be "ruinous to the health" of that area. Although he did not mention the U.S. by name, it was a clear reference to the recent sale of U.S. surplus wheat to Brazil. Said he, "The offer of those raw materials for soft or local currencies on long-payment terms...
...arms policy, the United States must uphold its determination to avert a ruinous armaments race in the area. The U.S. should certainly refrain from attempting to outdo the Soviets in winning Arab friendship, even if arms shipments are the only way to Arab hearts. Whatever Mr. Dulles' cherished plans for a Middle Eastern defense arrangement directed against the Soviet Union, he should remember that in Arab eyes, enemy number one is not Russia, but Israel...